Totem Pole Economics In Election Year

Talk about disconnects. The Got Rocks are bragging about their expanding stock portfolio while the Po on the Po River are living paycheck to paycheck thanks to inflated prices on food, gas, electricity & housing.

So said the WSJ article titled, The Haves & Have-Nots at the Center of America’s Inflation Fight.” Undeniably, it suggests that in the third year of America’s War on Inflation, “There’s a growing gap between Americans who are battered by high inflation & interest rates & those who are actually benefiting.” Somehow, “The stock market is soaring, household wealth is at record levels & investment income has never been greater. At the same time, some families’ pandemic-era savings are running dry, & delinquencies on credit card & auto-loan payments have jumped.”

It's the old paradox behind the “law of averages”. The top tier numbers always skewer the reality of those at the bottom of the totem pole … and, vice versa. And, today’s economy is no different as “The cross currents are scrambling the outlook for the US consumer – a bedrock of economic growth.” It’s also jumbling the two parties in this election year as they try to read the voter tea leaves. Now, how many Got Rocks do you think are going to be popping champaign and voting for the incumbent party? And, how many Po on the Po River are really pissed at it?

Davd Soul